Figure out how the economy is affecting different groups of people
Guiding Questions:
What is a recession and how do the financial effects of the recession differ between the public and private sector?
How does the economy affect the average American family?
How does the economy lead to other issues?
Guiding Activities:
Interview parents about how they were affected by the economy
Interview business owners on how their business as a whole was affected
Find statistics on the internet about the economy and the recession
Use iTunes U to find interviews or dialogue about people and the economy
Guiding Resources:
Internet
Parent interviews
Business owners
iTunes U
Solution
Max Linden
A recession is when real income, employment, industrial production and wholesale retails drop continuously for a few months. This affects the middle-class because the private businesses that employ the average middle-class person is forced to cut employees, leaving many jobless (Bright). Next, the prices of everyday supplies for the middle-class will rise. The way that this works is that since people were getting paid less the stores income dropped. To counter this workers were laid off, but since the store needed, say 50 employees, and now only 30 workers were left, the store could not run smoothly. Then people would shop elsewhere due to the lack of service and the store would suffer even more (Bright). In the public sector, workers who work for a large company are not necessarily safe even if they have had their job for 10 years. First of all, the may get fired, but even if they don’t and somebody else does, they will still have to carry the load of the missing person. The recession will have a very large affect on investments and savings. If one has $40,000 stashed away, the value of that can drop. New York Times surveyed people about their financial affects. Half of those surveyed said that there were no major changes in their lifestyle, yet about the same number said the opposite. Less than ¼ said that their daily lifestyle was not altered (Caucus).
The Specter at the Feast: Capitalist Crisis and the politics of Recession by Andrew Gamble gave background information on the economy, such as The crashing of Bear Stearn's, one of the leading American banks (Gamble).
Jim Horvath
The economic recession has created a large impact on American families. It is adjusting family roles and relationships more than at anytime since the Great Depression. As family budgets tighten and roles change, tensions have risen, and some advocates are even worrying about an increase in domestic violence. In other cases, however, families have forged new bonds and balanced duties in new ways. (Hanes)
A major reason why family roles are changing and shifting is the disproportionate number of men being laid off. It is recalibrating who earns the income and who drives the kids to school. Some of this disproportion can be explained by the deep cuts in the manufacturing and construction industries, which are largely male. In these two fields alone, over two million jobs have been lost. Men have started taking over more child-care duties: getting the kids off the bus, feeding them dinner, and doing more housework. (The Caucus) The change in roles has helped couples develop new empathy for what the other does.
Children are beginning to feel the effects of the economic recession as well. With more families living in overcrowded conditions with relatives doubled up and sharing rooms, children are engaging in more aggressive behavior and isolating themselves. This is because children need personal space to learn, and when that space is invaded children may stop communication or engage in aggressive behaviors. (Po)
Brenna Gradus
Obesity rates have been and will most likely continue to rise as parents are forced to rely on purchasing cheaper food products, which usually tend to be less healthy than the pricier, healthier meals (Condon). The majority of obese Americans reside grew up and continue to reside in low-income neighborhoods. Fast food chains take advantage of the business opportunity by opening new restaurants in these neighborhoods, considering the fact that the people inhabiting these areas gravitate towards purchasing such cheap foods (Britt).
Education has been effected on both the elementary and college levels. As local budgets are cut, pre-school programs are cut along with it, limiting the learning of incoming kindergarten students at while they have the most potential to absorb information. More than 70 percent of incoming college students have decided to choose a less expensive school than their first choice or work as freshman at the school of their choice to accommodate their financial situations due to the recession. Students are now considering attending public schools rather than private schools to avoid pricier tuition (Ramírez).
The birth rate in America has been dropping and will continue to drop as couples find they are not in the financial position to support children. Past research and statistics show that it takes two births per woman, on average, to keep a population going, and if this birth rate is not met, towns and cities may begin to disappear within the next forty to fifty years (Douglass).
'Merica
Max Linden, Brenna Gradus, and Jim HorvathEssential Question:
Table of Contents
Challenge:
Figure out how the economy is affecting different groups of peopleGuiding Questions:
What is a recession and how do the financial effects of the recession differ between the public and private sector?How does the economy affect the average American family?
How does the economy lead to other issues?
Guiding Activities:
Interview parents about how they were affected by the economyInterview business owners on how their business as a whole was affected
Find statistics on the internet about the economy and the recession
Use iTunes U to find interviews or dialogue about people and the economy
Guiding Resources:
InternetParent interviews
Business owners
iTunes U
Solution
Max Linden
A recession is when real income, employment, industrial production and wholesale retails drop continuously for a few months. This affects the middle-class because the private businesses that employ the average middle-class person is forced to cut employees, leaving many jobless (Bright). Next, the prices of everyday supplies for the middle-class will rise. The way that this works is that since people were getting paid less the stores income dropped. To counter this workers were laid off, but since the store needed, say 50 employees, and now only 30 workers were left, the store could not run smoothly. Then people would shop elsewhere due to the lack of service and the store would suffer even more (Bright).
In the public sector, workers who work for a large company are not necessarily safe even if they have had their job for 10 years. First of all, the may get fired, but even if they don’t and somebody else does, they will still have to carry the load of the missing person. The recession will have a very large affect on investments and savings. If one has $40,000 stashed away, the value of that can drop. New York Times surveyed people about their financial affects. Half of those surveyed said that there were no major changes in their lifestyle, yet about the same number said the opposite. Less than ¼ said that their daily lifestyle was not altered (Caucus).
The Specter at the Feast: Capitalist Crisis and the politics of Recession by Andrew Gamble gave background information on the economy, such as The crashing of Bear Stearn's, one of the leading American banks (Gamble).
Jim Horvath
The economic recession has created a large impact on American families. It is adjusting family roles and relationships more than at anytime since the Great Depression. As family budgets tighten and roles change, tensions have risen, and some advocates are even worrying about an increase in domestic violence. In other cases, however, families have forged new bonds and balanced duties in new ways. (Hanes)
A major reason why family roles are changing and shifting is the disproportionate number of men being laid off. It is recalibrating who earns the income and who drives the kids to school. Some of this disproportion can be explained by the deep cuts in the manufacturing and construction industries, which are largely male. In these two fields alone, over two million jobs have been lost. Men have started taking over more child-care duties: getting the kids off the bus, feeding them dinner, and doing more housework. (The Caucus) The change in roles has helped couples develop new empathy for what the other does.
Children are beginning to feel the effects of the economic recession as well. With more families living in overcrowded conditions with relatives doubled up and sharing rooms, children are engaging in more aggressive behavior and isolating themselves. This is because children need personal space to learn, and when that space is invaded children may stop communication or engage in aggressive behaviors. (Po)
Brenna Gradus
Obesity rates have been and will most likely continue to rise as parents are forced to rely on purchasing cheaper food products, which usually tend to be less healthy than the pricier, healthier meals (Condon). The majority of obese Americans reside grew up and continue to reside in low-income neighborhoods. Fast food chains take advantage of the business opportunity by opening new restaurants in these neighborhoods, considering the fact that the people inhabiting these areas gravitate towards purchasing such cheap foods (Britt).
Education has been effected on both the elementary and college levels. As local budgets are cut, pre-school programs are cut along with it, limiting the learning of incoming kindergarten students at while they have the most potential to absorb information. More than 70 percent of incoming college students have decided to choose a less expensive school than their first choice or work as freshman at the school of their choice to accommodate their financial situations due to the recession. Students are now considering attending public schools rather than private schools to avoid pricier tuition (Ramírez).
The birth rate in America has been dropping and will continue to drop as couples find they are not in the financial position to support children. Past research and statistics show that it takes two births per woman, on average, to keep a population going, and if this birth rate is not met, towns and cities may begin to disappear within the next forty to fifty years (Douglass).
Sources
1)http://www.ehow.com/how-does_4579169_economic-recession-affect-average-person.html (Paul Bright)
http://thecaucus.blogs.nytimes.com/2009/05/14/the-recessions-effect-on-american-households/ (Caucus)
http://www.whitehouse.gov/blog/2010/09/14/encouraging-business-investment (Jarrett)
The Specter at the Feast: Capitalist Crisis and the politics of Recession by Andrew Gamble, Department of Politics and International Studies, University of Cambridge
2)
http://newamericamedia.org/2010/05/in-families-squeezed-by-recession-kids-show-effects.php (Po)
http://www.indianchild.com/economics/effects-of-recession.htm (Nagpal)
http://thecaucus.blogs.nytimes.com/2009/05/14/the-recessions-effect-on-american-households/ (the Causcus)
http://www.ibtimes.com/articles/35505/20100714/survey-recession-economists-harris-perkstreet-american-consumer-behavior-household-women-men-money-s.htm (Seshan)
http://www.csmonitor.com/Business/2009/0614/p13s01-usec.html/(page)/2 (Hanes)
3)
http://www.cbsnews.com/stories/2009/06/03/business/childofrecession/main5059820.shtml (obesity)
http://www.livescience.com/health/080109-recession-obesity.html (obesity)
http://www.erica.biz/2009/effect-of-recession/ (birth rate)
http://www.usnews.com/blogs/on-education/2009/04/08/how-the-recession-is-changing-students-college-plans.html (college students)
http://www.universityparent.com/2009/02/16/should-a-recession-affect-the-major-that-a-college-student-chooses (college students)